Mar 14, 2025 | Posted by Abdul-Rahman Oladimeji
Cathedra Bitcoin, a Vancouver-based developer and operator of crypto mining and data center infrastructure, has announced the sale of a 60MW Bitcoin mining facility in North Dakota to an unnamed third-party Bitcoin miner for a fee of $21 million.
The company intends to use the funds to “develop new data centers, acquire additional Bitcoin for its long-term balance sheet reserves, and increase its cash holdings,” as per the firm’s announcement.
“The sale of the North Dakota facility demonstrates our ability to generate attractive returns for our shareholders through our low-cost construction capabilities, whether by developing to sell or operating these assets ourselves,” said Drew Armstrong, president and COO of Cathedra.
According to a company presentation, Cathedra leases two data centers in Washington totaling 5MW and wholly owns three data centers totaling 30MW in Kentucky (two sites totaling 20MW) and Tennessee (one 10MW data center.)
